Tag: California Earthquake Authority

California is taking steps to promote earthquake insurance

Nordstrom
oklahoma earthquake insurance industry

Few homeowners in California have insurance protection against earthquakes Few people in California have earthquake insurance, and this is being considered a significant problem by the California Earthquake Authority and state lawmakers. The organization has begun working with Assemblyman Ken Cooley in order to address the issue. New legislation has been introduced, highlighting the lack of insurance coverage for the state’s homeowners. The legislation is expected to take effect in 2016 and requires insurers to provide homeowners with easily understood information regarding their insurance coverage and earthquake coverage. The number…

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Homeowners in California are lacking earthquake insurance

Nordstrom
California Earthquake Authority - earthquake insurance

Recent quakes in California highlight the lack of appropriate coverage A recent spate of earthquakes in California has many homeowners worried about whether or not their properties are covered against the damaged caused by these natural disasters. On Friday last week, a 5.1 earthquake struck Southern California. The quake caused modest damage, but homeowners affected by the event are finding that they have to pay for these damages themselves as they lack the appropriate insurance coverage. The vast majority of homeowners insurance policies do not offer protection against earthquakes, but…

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California earthquake insurance discount program unveiled

H. Cutner
Earthquake Insurance

The state has revealed a plan in the attempt to broaden tremor coverage among its property owners. Many experts feel that the next big tremor is well overdue and yet the vast majority of homeowners in San Diego County do not have the necessary California earthquake insurance to protect them in case it should actually hit. It is estimated that 85 percent of homes in that region do not have the right coverage for a quake. This week, the state’s commissioner, Dave Jones, joined others in the industry in order…

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California at risk for major earthquake

S.Vagus
San Andreas Fault Line California earthquake insurance

Geologists meet in California to highlight earthquake concerns California is no stranger to earthquakes; indeed, thousands of seismic events of varying degrees happen every day in the state. Last week, concerns regarding a massive, nationwide earthquake were drummed up when more than 9 million people throughout the state participated in an earthquake drill. California insurers are well versed in the risks associated with earthquakes in the state. What has many insurers worried, however, are the risks associated with a nationwide catastrophe. The U.S. Geological Survey met with risk professionals in…

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More earthquake insurance options to be offered by CEA to state homeowners

Julie Campbell
Earthquake Insurance

Californians to have more choices to keep their properties and investments safe. The California Earthquake Authority (CEA) has announced that it will now be offering a new earthquake insurance product to residents of the state to provide them with a greater level of control over the premiums that they pay, and to give them the choice as to whether or not they would like their personal property covered. This coverage will be more accessible to homeowners by way of a new structure for deductibles. According to the CEO of the…

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